At a glance
- The marketplace is built by Animoca Brands and Nuva Labs.
- The token represents a pooled investment vehicle that initially holds HELOCs originated through Figure Technology Solutions.
- Holders do not own the loans themselves.
NUVA has introduced HOME, a token giving eligible non-U.S. investors exposure to U.S. home-equity lines of credit from 1 USDC, CoinDesk reported on Oct. 8. The marketplace is built by Animoca Brands and Nuva Labs.
The token represents a pooled investment vehicle that initially holds HELOCs originated through Figure Technology Solutions. NUVA targets a 7% annual return, reset monthly; interest income and loan performance are reflected in the vault's net asset value, which determines the token's price.
Holders do not own the loans themselves. "HOME holders do not directly own the underlying loans," Nuva Labs CEO Anthony Moro told CoinDesk. "They hold HOME tokens that provide exposure to the assets held in the vault." Moro spent 22 years at BNY Mellon, according to CoinDesk.
HELOC exposure has traditionally reached investors through securitizations, private-credit funds or whole-loan purchases. HOME packages similar collateral into an ERC-20 token at a much lower entry size than a fund commitment or loan purchase.
HOME is not the first tokenized private-credit product, CoinDesk noted. Maple Finance and Centrifuge have brought credit products onchain. Figure already tokenizes HELOCs on Provenance.
U.S. HELOC balances reached $460 billion in the second quarter, according to Federal Reserve Economic Data cited by CoinDesk. Figure's consumer-loan marketplace processed $4.3 billion in volume in that quarter, including $2.8 billion through Figure Connect.
Eligibility is limited to non-U.S. users, so the $1 minimum is not a domestic retail offering. The 7% figure is a monthly reset target, not a fixed coupon, so the number a holder sees now is not a rate locked at purchase.
A HELOC lets a homeowner borrow against property equity, typically at a variable rate over a defined draw period. By holding a basket, HOME investors take the pool's blended performance through the vault's net asset value rather than payments on any single loan, and credit selection stays with the manager. Figure originates the loans; NUVA manages the vault and the token. Investors who want the loans outright still have the whole-loan channel through Figure.
Reported by the Tokenization desk from CoinDesk — Policy & Institutions. Published . Corrections